501 Hondo Ave Devine, TX 78016

This exceptional investment opportunity presents a fee-simple, Class A, 3,235 square foot medical office building in Devine, Texas (78016). Currently 100% occupied by Smilepoint Dental Group under a new 10-year NNN lease with 2% annual rent increases and three 5-year renewal options, this single-tenant property offers significant long-term stability and passive income. The property boasts a strong 8.25% cap rate, projected to exceed 9.03% over the initial lease term due to the built-in rent escalations. Minimal landlord responsibilities are inherent in the NNN lease structure. Located on a 0.47-acre lot, the building was constructed in 1965 and is situated in a high-traffic area near a Walmart Supercenter and other major retailers, ensuring high visibility and consistent patient flow. Smilepoint Dental Group, a rapidly expanding Dental Service Organization (DSO) with 25+ locations across Texas and New Mexico, provides a wide range of dental services, including family dentistry, pediatrics, dentures, implants, orthodontics, and Invisalign. The asking price is $627,394, translating to $193.94 per square foot. The property generates a net operating income (NOI) of $51,760. This investment offers a compelling combination of strong tenant, favorable lease terms, and a prime location within a growing market, making it an ideal addition to any portfolio. The specialized healthcare tenancy provides additional security, as healthcare facilities rarely relocate due to patient retention challenges and high relocation costs. This is a rare opportunity to acquire a high-yield, low-maintenance investment in a tax-free state.